Charles F. Wu - May 27, 2022 Form 4 Insider Report for National Storage Affiliates Trust (NSA)

Role
Director
Signature
Charles Fairman Wu, by Jason Parsont, his Attorney-in-fact
Stock symbol
NSA
Transactions as of
May 27, 2022
Transactions value $
$180,000
Form type
4
Date filed
6/1/2022, 04:28 PM
Previous filing
Jun 2, 2021
Next filing
May 31, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NSA Class A OP Units Award $180K +3.37K +71.43% $53.46 8.08K May 27, 2022 Common shares of beneficial interest, $0.01 par value 3.37K Direct F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The 3,367 Class A common units of limited partner interest ("Class A OP Units") in NSA OP, LP (the "Partnership") are issuable upon the conversion of 3,367 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2015 Equity Incentive Plan, and are scheduled to vest on the earlier of: (i) May 24, 2023 or (ii) the calendar day immediately preceding the next annual meeting of shareholders, the date of which will be specified in a future proxy statement of the Issuer. Vested LTIP Units, after achieving parity with Class A OP Units, are eligible to be converted into Class A OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership's agreement of limited partnership.
F2 Upon conversion of such vested parity LTIP Units into Class A OP Units, the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's Class A OP Units for cash in an amount equal to the market value of an equivalent number of the Issuer's common shares of beneficial interest ("Shares"), or at the Issuer's option, Shares on a one-for-one basis, subject to certain adjustments.
F3 N/A
F4 The price of the derivative securities was determined using the closing price of the Issuer's Shares on May 27, 2022.
F5 The Reporting Person's total direct beneficial ownership following the reported transactions above is 8,081 Class A OP Units, which includes those Class A OP Units previously reported and the Class A OP Units reported herein (together with those other LTIP Units convertible into, or exchangeable for, such Class A OP Units as specified herein and reported in a prior Form 4). Following the reported transactions, the Reporting Person has total direct beneficial ownership in 3,452 vested LTIP Units and 4,629 unvested LTIP Units. The 8,081 Class A OP Units do not include non-derivative securities of the Reporting Person that were previously reported.